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Land Transfer Tax


Land transfer tax (LTT) is often overlooked when considering the total cost of purchasing a home. All provinces have a land transfer tax, except Alberta and Saskatchewan, who instead levy a much smaller transfer fee. To see how land transfer tax is calculated on a home purchased in Ontario, watch the video below.

In most provinces the tax is calculated as a % of property value, using asking price as a close estimate. Homebuyers in Toronto, however, also incur an additional municipal tax.

To help offset the unwelcome cost, Ontario, British Columbia, Prince Edward Island and the City of Toronto offer land transfer tax rebates for first-time homebuyers.

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Provincial:        Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province. plus
 
Municipal:        Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home. plus
 
Rebate:        Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province. minus
 

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Ontario land transfer tax


Purchase price of home Marginal tax rate
First $55,000 0.5%
On $55,000 to $250,000 1.0%
On $250,000 to $400,000 1.5%
Over $400,000 2.0%

Source: Ontario Ministry of Revenue, "Land Transfer Tax."

Ontario first-time homebuyer land transfer tax rebate

The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $2,000.

Eligibility

  • The buyer must be older than 18 years
  • The buyer must occupy the home within nine months of purchase
  • The buyer cannot have owned a home anywhere in the world
  • The buyer's spouse cannot have owned a home while being your spouse
  • If you are purchasing a new home, it must be eligible for home warranty

Based on Ontario land transfer tax rates, the rebate will cover the fully taxed amount on houses up to $227,500. For houses over $227,500, homebuyers will receive the maximum $2,000 rebate. To obtain this refund, you need to apply within 18 months after the purchase of the home.1

Souce: Ontario Ministry of Revenue, "Land Transfer Tax Refund for First-time Homebuyers"

Toronto land transfer tax

If purchasing a home in Toronto, there is an additional municipal land transfer tax. Toronto's land transfer tax applies within the following boundaries: Steeles Avenue as the North border, Etobicoke as the West border, Scarborough as the East border, and Lake Ontario as the South border.

Purchase price of home Marginal Tax rate
First $55,000 0.5%
On $55,000 to $400,000 1.0%
Over $400,000 2.0%

Source: City of Toronto, "Municipal Land Transfer Tax"

Toronto first-time homebuyer land transfer tax rebate

First-time homebuyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725.

Eligibility

  • The buyer must be older than 18 years
  • The buyer must occupy the home within nine months of purchase
  • The buyer cannot have owned a home anywhere in the world
  • The buyer's spouse cannot have owned a home while being your spouse
  • If you are purchasing a new home, it must be eligible for home warranty

Based on Toronto land transfer tax rates, first-time homebuyers with homes of $400,000 or less will avoid the tax altogether.

Source: City of Toronto, "Municipal Land Transfer Tax"

British Columbia land transfer tax

Purchase price of home Marginal Tax rate
First $200,000 1.0%
Over $200,000 2.0%

Source: Government of British Columbia, "Property Transfer Tax"

British Columbia first-time homebuyer land transfer tax rebate


First-time homebuyers are eligible to receive a full land transfer tax refund on homes purchased for $425,000 or less. On homes purchased between $426,000 - $450,000, the first-time homebuyer will be eligible for a partial refund equal to [ ($450K - fair market value) / 25K ] * LTT amount.

Eligibility

You can qualify for the first-time homebuyer land transfer tax rebate if:

  • You are Canadian citizens or permanent residents as determined by Immigration Canada
  • You have lived in British Columbia for 12 consecutive months prior to the date the property is registered or have filed 2 income taxes in British Columbia in the 6 years before the property is registered
  • You have never owned an interest in a principal residence anywhere in the world at anytime
  • You have never received a first-time home buyers' exemption or refund

Your property qualifies for the first-time homebuyer land transfer tax rebate if:

  • The fair market value of the property is not more than $425,000
  • The land is (0.5) hectares or smaller
  • The property will only be used as your primary residence

For more information, see the Government of British Columbia website.

Source: Government of British Columbia, "First Time Home Buyers Program"

Alberta land title transfer fees

Alberta does not have a land transfer tax, however, it does charge a title registration fee AND a mortgage registration fee.

Title Registration Fee: There is a base fee of $50 plus an additional $1 charge for every $5,000 of the fair market value of the property (rounded up to the nearest $5,000).

  • $50 + $1 for every $5,000 of the fair market value

Mortgage Registration Fee: There is a base fee of $50 plus an additional $1 charge for every $5,000 of the mortgage loan (rounded up to the nearest $5,000).

  • $50 + $1 for every $5,000 of the mortgage loan

Source: Service Alberta, "Land Titles Act - Tarrif of fees regulation"

Saskatchewan land title transfer fees

Though Saskatchewan does not have a land transfer tax, they do have a land title fee. This fee is often paid by your lawyer when they are filling out the land title form on your behalf.

Purchase price of home Title transfer fee
$1 - $500
$0
$501 - $8,400
$25
Over $8,401 0.30% of property value

Source: Information Services Corporation (ISC), "Land Titles Fees"

Manitoba land transfer tax

In Manitoba, there is always a $70 registration fee.

Property value

Marginal Tax rate
On the first $30,000 No tax
The next $60,000 0.5%
The next $60,000 1.0%
The next $60,000
1.5%
On the remaining amount 2.0%

Source: Government of Manitoba, "Land Transfer Tax"

Quebec land transfer tax

Land transfer tax in Quebec (taxe de bienvenue) is different outside of Montreal. The tax is collected and calculated at the municipal level. The base amount (i.e. the value of the property) used in the calculation is first determined to be the greater of:

  • The purchase price of the property
  • The amount listed on the Deed of Sale
  • The market value of the property determined by a municipal assessment roll increased by a comparative factor

Once the base amount is determined, land transfer tax in Quebec is then governed by the following scale:

Value of property Marginal Tax rate
The first $50,000 ($0 to $50,000) 0.5%
On the next $200,000 ($50,001 to $250,000) 1.0%
On the amount over $250,000 1.5%

Source: The Government of Quebec, “Transfer Tax”

 

Montreal land transfer tax


The calculation for land transfer tax in Montreal is a little different than the rest of Quebec. The base amount (i.e. the value of the property) that is used in the calculation is determined to be the greater of:

  • The purchase price of the property
  • The amount listed on the Deed of Sale
  • The market value of the property determined by the Montreal assessment roll increased by a comparative factor*

*This is the comparative factor used in the assessment roll

Year of Registration

Comparative Factor

2012

1.08

2011

1.00

2010

1.19

2009

1.11

2008

1.06

Calculating the land transfer tax in Montreal, once the value of the property has been determined, is then governed by the following scale:

Value of property

Marginal Tax rate

The first $50,000 ($0 to $50,000)

0.5%

On the next $200,000 ($50,001 to $250,000)

1.0%

On the next $250,000 ($250,001 to $500,000)

1.5%

On the amount over $500,000

2.0%

Source: The City of Montreal – Finance Department

New Brunswick Real Property Transfer Tax Act


In New Brunswick, the land transfer tax is currently 0.5% of the assessed value of the property. For example, on a purchase of a house assessed to be worth $100,000, the tax payable is $500.

Source: Public Legal Education end Information Service of New Brunswick

Prince Edward Island land transfer tax

In Prince Edward Island (PEI), land transfer tax (otherswise referred to as Real Property Transfer Tax) is calculated as follows:

  • 1% of the greater of purchase price or property value
  • In cases where the property value is less than $30,000, no transfer tax is charged

Source: Government of PEI, "Real Property Transfer Tax"

Prince Edward Island first-time homebuyer land transfer tax rebate

First-time homebuyers who are purchasing in PEI are exempt from paying land transfer tax under the following circumstances:

  • Property value and purchase prices are below $200,000
  • Individuals are occupying home as primary residence

Also, if there is more than one purchaser, both purchasers must qualify as a first-time homebuyer.

Source: Governement of PEI, "First Time Home Buyer Requirements"

Nova Scotia land transfer tax


Each municipality in Nova Scotia sets their own land transfer tax (also known as Deed Transfer Tax), which can vary from 0.5% to 1.5% of the purchase price. For homes in the Halifax area, the land transfer tax is 1.5%.

For land transfer tax rates outside of the Halifax area, please see the Nova Scotia land transfer tax tables.

Source: Government of Nova Scota, "Deed Transfer Tax".

Northwest Territories land transfer tax


In the North West Territories, land transfer tax is calculated as a percentage of the property value and mortgage amount as follows:

  • $1.50 for every $1,000 or part therof of property value (subject to a minimum charge of $100)
  • $1 for every $1,000 or part therof of property value (for part of property value greater than $1,000,000)
  • $1 for every $5,000 or part therof of mortgage amount (subject to a minimum charge of $80)

Source: Government of North West Territories, "Land Titles Fees"

 

Newfoundland Registration of Deeds Act


In Newfoundland and Labrador, the Registration of Deeds Act, also known as the land transfer tax, is levied on the property value or the mortgage amount as follows:

  • For properties or mortgages under $500, only a flat fee of $100 is charged
  • For properties exceeding $500, a flat fee of $100 is charged plus $0.40 for every hundred dollars over $500

Source: Government of Newfoundland and Labrador

Yukon Territory Land Titles Act

Property value
Marginal Tax rate
First $1,000 $6.00
On $1,000 - $3,000 $7.50
On $3,000 - $5,000
$10.50
For each $1,000 or fraction thereof over $5,000 and up to $10,000 $1.50
For each $1,000 or fraction thereof over $10,000 and up to $25,000

$0.75

For each $1,000 or fraction thereof over $25,000

$0.25

Additional fees may apply.

Source: Land Titles Office, Department of Justice, Yukon Territory